Positive growth trends to be maintained in coming months in Georgia

Georgian Deputy Economy Minister Vakhtan Tsintsadze on Thursday said the Government’s “reasonable” macroeconomic policy was ensuring Georgia's resilience to external shocks and “positive trends” of economic growth would be maintained in the coming months, Azernews reports, citing Agenda.

The National Statistics Office of Georgia on Thursday released the latest gross domestic product data, which said the domestic economy grew 5.5 percent in July year-on-year and 7.2 percent in the first seven months of 2023.

Tsintsadze said growth of investment activities, as well as the positive trends observed in the trade of goods and tourism, were contributing factors to the growth.

Statistics show GDP growth was mainly driven by estimated real growth in financial and insurance activities, construction, trade, professional, and scientific and technical sectors.

Tsintsadze also noted exports grew by 15.9 percent y/y in January-July and reached $3.58 billion.